GDP, Amazon, commercial radio: 5 killer stats to start your week

Marketing Week11 Feb 2019 01:31

UK GDP growth slows as Brexit uncertainty bites

UK GDP growth slowed to 0.2% in the fourth quarter of 2018 as Brexit uncertainty, weakness in the Eurozone and the trade war between the US and China impacted the economy. That was down from relatively strong growth of 0.6% in the third quarter.

Services provided the bulk of the growth in the final quarter, increasing by 0.4% between October and December. Manufacturing output shrank by 0.9%, while construction was down 0.3%.

The figures also show that GDP actually fell in December, down 0.4% year on year, a worse performance than expected after economists predicted the economy might be flat in the final month of the year.

Annually, GDP growth dropped to 1.4% in 2018, the lowest level since 2012. The think tank Resolution estimates UK households are £1,500 worse off on average today than expected before the EU referendum due to slowing growth and the weakness of the pound driving up inflation.